How a Sharing Economy is created with QCoin and Quantum1Net

 In Articles, Q1N Q-Coins, Quantum1Net


Creating a Sharing Economy in the physical world is hard, but possible, just look at AirBnB, they have done a great job with making people earn from unused spaces, but many other physical sharing economy startups are struggling, like Omni, an SF based things rental Startup, where you can rent things from other users, like a painting for your wall, or a tool to fix your bookshelf.

Creating Sharing Economy over the Internet is much easier, as there are no physical objects to move, so logistics are easy, and as bandwidth, access computer resources and storage is getting more attractive every day, the market is ripe for an online computer resources sharing platform.

To maintain a service, any online service, has not changed a lot since 1990s, you need a physical machine that is connected to the Internet, and on that machine, you host your service. The service can run as a Virtual Machine so that more services can be hosted on each physical machine. The physical machine can be said to be in the “Cloud” or not. 

When creating a Sharing Economy for Internet and computer resources, we need to “cluster” those resources, make them accessible for different services, and last but not least pay the Sharers for the use of their resources. 

Blockchain is perfect to keep track of the resource use at each node, and Cryptocurrency is perfect for paying for the used resources. 

Distributed Computing and Distributed Systems has been around for a long time, so that solves the clustering. 

So what has been holding us back?

Well in a fully decentralized system there is no central point to control, manage and maintain deployed multiple services, so each existing Distributed system is built around one service and is dedicated to run the service.

you could use the approach of “smart contracts”, and make the solution immutable and release it in the wild to never be changed. That approach do not fit a lot of services as it is hugely limiting. 

So to solve this, Quantum1Net has developed the Service Manifest, that describes permissions and policies of a specific Service and makes it possible for multiple Services to run on the same decentralized, distributed system. 

Read more about Service Manifests and Smart City’s


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